SHORT EURUSD
Updated
- EURUSD has strong downward momentum
- If it breaks the downtrend channel, we could short it now to below 1.0000 which is also an important psychological level
- If it bounces back up, we could short it at its resistance of 1.0360 if the downtrend continues
- Need to watch out for next FOMC meeting end of this month to determine whether the interest rate persists
- If it breaks the downtrend channel, we could short it now to below 1.0000 which is also an important psychological level
- If it bounces back up, we could short it at its resistance of 1.0360 if the downtrend continues
- Need to watch out for next FOMC meeting end of this month to determine whether the interest rate persists
Trade active
- That is based on a view that that the US economy will continue to hold up better than other major economies and the Fed will remain more aggressive in tightening policy than peers elsewhere. - 'Risky' assets will remain under pressure as the global economy slows, boosting safe-haven demand for dollars.
- In the event of a major risk-off event, safe-haven demand could drive the dollar much higher
Trade active
- EURUSD remains within the downtrend channel and Fed will stay hawkish.- Likely to go lower after a trend reversal.
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